The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
USD/JPY: price reached 21 Moving Average
There's a bullish "Harami", which has been confirmed, so the price reached the 21 Moving Average. However, there's no any bearish pattern, so the pair is likely going to test the 89 MA.
The price has been rising since a "Harami" formed at the last local low. If the 55 Moving Average acts as support, there'll be an opportunity to have another bullish price movement.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.